Reconova Technologies Co., Ltd. released unaudited results for the six months ended 30 June 2026, highlighting strong top-line expansion and a reduced net deficit.
Revenue and Profitability • Revenue reached RMB 102.10 million, up 58.70% from RMB 64.34 million a year earlier. • Gross profit rose 89.60% to RMB 26.74 million; gross margin improved to 26.2% (H1 2025: 21.9%). Excluding inventory write-downs, margin stood at 27.1%. • Net loss narrowed 6.70% year on year to RMB 64.08 million (H1 2025: loss of RMB 68.69 million). • Adjusted (non-IFRS) net loss decreased to RMB 51.11 million from RMB 56.34 million, reflecting lower operating losses despite higher R&D spending.
Segment Performance • Intelligent Driving Safety delivered RMB 65.64 million, accounting for 64.3% of total revenue and expanding 41.2% YoY on broader market penetration. • Intelligent Commerce generated RMB 33.64 million, up 95.5%, representing 33.0% of group revenue. • Intelligent Civil Aviation contributed RMB 2.79 million, jumping 319.1%, equal to 2.7% of group revenue. • Other sales were negligible at RMB 0.03 million.
Cost Structure • Cost of sales increased 50.0% to RMB 75.37 million in line with higher volumes. • Selling & distribution expenses fell 5.3% to RMB 15.80 million. • Administrative expenses edged up 2.8% to RMB 30.37 million. • R&D outlays surged 51.2% to RMB 49.82 million, driven by investment in commercial robotics.
Balance Sheet and Liquidity • Total assets: RMB 586.96 million (31 Dec 2025: RMB 681.85 million). • Total liabilities: RMB 538.67 million (31 Dec 2025: RMB 574.29 million). • Equity: RMB 48.29 million (31 Dec 2025: RMB 107.56 million). • Cash and cash equivalents fell to RMB 21.85 million from RMB 38.14 million at year-end 2025, reflecting operating cash outflows. • Interest-bearing borrowings stood at RMB 173.57 million (31 Dec 2025: RMB 151.25 million); gearing ratio rose to 92% (31 Dec 2025: 84%). • Capital expenditure totalled RMB 0.72 million, mainly for software acquisitions.
Use of IPO Proceeds Reconova listed H shares on Hong Kong’s Main Board on 8 July 2026, raising net proceeds of approximately HK$529.10 million. As at 30 June 2026, none of these proceeds had been deployed.
Dividend The board declared no interim dividend.
Contingent Liability The company may face supplementary compensation of up to RMB 1.00 million related to an unresolved lawsuit concerning a former investee, Shenzhen Ruiwei Zhanggui Technology Co., Ltd.
Outlook (per management discussion) Reconova plans to deepen R&D in visual embodied intelligence, expand commercial robot applications, and pursue overseas opportunities, leveraging proceeds from its recent listing to support technology upgrades, production capacity and global market development.